Question

A local trucking company fitted a regression to relate the travel time (days) of its shipments as a function of the distance traveled (miles). The fitted regression is Time = −7.126 + .0214 Distance, based on a sample of 20 shipments. The estimated standard error of the slope is 0.0053. Find the critical value for a right-tailed test to see if the slope is positive, using α = .05.A local trucking company fitted a regression to relate the travel time (days) of its shipments as a function of the distance traveled (miles). The fitted regression is Time = −7.126 + .0214 Distance, based on a sample of 20 shipments. The estimated standard error of the slope is 0.0053. Find the critical value for a right-tailed test to see if the slope is positive, using α = .05.

Answer 1

Answer:

1.734

Step-by-step explanation:

Given that:

A local trucking company fitted a regression to relate the travel time (days) of its shipments as a function of the distance traveled (miles).

The fitted regression is Time = −7.126 + .0214 Distance

Based on a sample size n = 20

And an Estimated standard error of the slope = 0.0053

the critical value for a right-tailed test to see if the slope is positive, using ∝ = 0.05 can be computed as follows:

Let's determine the degree of freedom df = n - 1

the degree of freedom df = 20 - 2

the degree of freedom df =  18

At the level of significance ∝ = 0.05 and degree of freedom df =  18

For a right tailed test t, the critical value from the t table is :

$t_{0.05, 18} =$ 1.734